Dow Chemical swings to fourth-quarter profit

WilliamL. Watts

LONDON (MarketWatch) -- Dow Chemical Co.
DOW, +0.15%
on Tuesday reported fourth-quarter net earnings of $87 million, or 8 cents a share, compared to a loss of $1.55 billion, or $1.68 a share, in the same period the previous year. Excluding special items, earnings were 18 cents a share, the company said. Analysts surveyed by FactSet Research had produced a consensus forecast of 11 cents a share. Sales rose 15% to $12.5 billion, the Midland, Mich.-based chemical giant said. Dow CEO Andrew N. Liveris said demand in emerging regions continues to show sustained growth, while growth in the U.S. and Europe will continue to lag amid high unemployment and questions about the sustainability of government stimulus spending.

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